The open source model for covering bitcoin-China hysteria

The Wall Street Journal is reporting that BTC China has begun to disallowdeposits from another Chinese bank, and some investors have again begunwringing their hands over what this will do to the currency’s value againstfiat money.

We get one of these stories every week now, and anyonefollowing along knows the drill. So, we thought it might be more useful if wecreated an open source model for reporting on these kinds of stories.

Think of the text below as a big game of MadLibs — just fill in the brackets with new, relevant information. Wehave updated plugged in details from the latest story to show how this works:

The price of one bitcoin fell to [$420] this morning amidgrowing concern over developments in China.

BTC China, a major Bitcoin exchange, just announced that itwill no longer take deposits in yuan from [China Merchants Bank Co.],delivering a major blow to investors’ confidence in the digital currency.

Representatives from BTC China sought to reassure customersby saying this move was simply to the secure client funds and ensure stableoperations.

BTC China is the biggest exchange, currently handling [75%]of all yuan-bitcoin exchanges.


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